A most commonly prescribed cancer drug in the market has been made generic by the US Food and Drug Administration (FDA) after the generic drug maker and the brand-name has brought its dispute over patents to end past year.

A request made by India based Sun Pharmaceutical Industries Limited subsidiary for the production of a generic version of Gleevec (imatinib mesylate) has got the FDA approval. Gleevec is generally prescribed medication for patients who have chronic myeloid leukemia (CML). It is also called chronic myelogenous leukemia, and is steadily progressive, though it can transform into an acute type also.

New Delhi - Drug firm Dr Reddy's Laboratories has launched generic Paricalcitol capsules used for treating secondary hyperparathyroidism associated with chronic kidney disease in the American market, following approval by the US health regulator.

The company has launched paricalcitol capsules in the US market in the strengths of 1 mcg, 2 mcg and 4 mcg on June 24 after getting approval from the United States Food and Drug Administration (USFDA), Dr Reddy's said in a statement.

The product is generic version of AbbVie Inc's Zemplar capsules, it added.

Dr Reddy`s Laboratories Ltd is recalling 13,560 bottles of the high blood pressure drug metoprolol succinate in the United States after it failed a dissolution test, the U. S. Food and Drug Administration said.

Metoprolol succinate extended release is a cheaper generic form of AstraZeneca Plc`s Toprol XL. Wockhardt Ltd also recalled 109,744 bottles of the same drug last month citing the same reason.

The recall was voluntarily started by Dr Reddy`s on May 23, 2014, and posted on the FDA website on Thursday.

A Dr Reddy`s spokesman did not immediately respond to a request for comment on the recall.

Stock in Dr Reddy's Laboratories gained more than 1 per cent on Friday; a day after the company announced the launch of a therapeutic equivalent generic version of Dacogen called Decitabine for injection in the U. S. market.

Dr Reddy's Labs said it launched Decitabine for injection as 50mg single dose vial, after obtaining the approval of the U. S. Food & Drug Administration (USFDA).

During the twelve months ended July 2013, the Dacogen brand recorded sales of around $260 Million MAT in the U. S.

Indian Stock Market followed global stock market trend and continued the upside movement. BSE Sensex was up by 50 points at 19763 and NSE Nifty was above 6000 with a gain of 15 points. US markets closed positive on January 2 with Dow Jones gaining 2.3%, Nasdaq up by 3% and S&P higher by 2.4 per cent.

Indian drug maker, Dr Reddy's Laboratories has announced its decision to acquire OctoPlus NV, a specialty pharmaceutical company based in the Netherlands, for 27.4 million euros.

The two companies said in a joint statement that they have reached a reached conditional agreement over the takeover. Dr Reddy's Laboratories or a wholly owned subsidiary will launch an intended public offer to acquire all issued and outstanding ordinary shares of OctoPlus. Dr Reddy's will acquire the company's shares at the rate of 0.52 euro per share.

Brokerage House CLSA has given a buy call for Jain Irrigation. The company is into agriculture sector and offers irrigation solutions. There is an increase in demand for cost saving irrigation systems and Jain Irrigation is a pioneer in the sector in Indian market.

Brokerage house CLSA has given a target price of Rs 150 for Jain Irrigation. The analysts have expressed positive views about the reduction of debt for the company. With earnings upgrade, the current market price for the stock looks undervalued.

Indian pharmaceutical major, Dr Reddy's Laboratories is planning to launch as many as 15 to 16 new products in the Us market in the year.

The expanded product line is expected to contribute about one-third to its revenues. The company had launched 12 products in the US market in the previous fiscal year and has generated about Rs3,189 crore in revenues.

Satish Reddy, the company's chief operating officer said, "There are going to be some interesting products. This year is a busy year and there are quite a few launches."

Indian drugmaker Dr. Reddy’s has reported an impressive 88 per cent rise in net profits in the thrd quarter of the year till December 2011 backed by high sales of schizophrenia drug Olanzapine in the US.

The company said that its net profit rose to Rs 513 crore in the third quarter of financial year compared to Rs 273.2 crore in the same quarter of the previous fiscal. The company revenue of the company was recorded at at Rs

Dr Reddy's Laboratories has announced that the strike at its manufacturing unit in Srikakulam, Andhra Pradesh by contract-based workers has ended and operations have resumed.

The workers were striking for various demands since August 12. The production in the unit was affected after the company reduced the number of contract workers to 85. The contract workers did not accept a wage agreement on November and continued their strike at the unit of the pharmaceutical major.